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Category: Corporate News

Corporate News International Oil

TotalEnergies Expands African Energy Push as Namibia Emerges as Key Offshore Oil Frontier

TotalEnergies Boosts Africa Exploration Strategy as Namibia Offshore Oil Projects Advance Toward 2026 Investment Decision TotalEnergies is accelerating its global exploration strategy, investing approximately $1 billion annually in new energy developments as it strengthens its upstream portfolio across key regions, including Africa. The company says its long-term growth depends not only on capital investment but also on building strong partnerships, trust, and sustained collaboration with host governments and local communities. Namibia Emerges as a Strategic

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Local Corporate News Gas News Oil

ReconAfrica Expands Into Angola as It Strengthens Oil and Gas Exploration Across Africa

ReconAfrica Enters Angola Oil Exploration with New Partnership as Kavango Basin and Gabon Projects Advance Reconnaissance Energy Africa (ReconAfrica) has expanded its African exploration footprint, marking a strategic entry into Angola while continuing to advance key oil and gas projects across the continent. The company confirmed new exploration activity in Angola alongside ongoing developments in Namibia and Gabon, as it strengthens its position in several high-potential sedimentary basins. Angola Entry Marks Strategic Expansion A major

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Corporate News Local Oil

Angola’s $6.6bn Lobito Refinery Faces Financing Delays Amid Investor Uncertainty

Angola struggles to secure funding for $6.6 billion Lobito refinery as investor negotiations slow and regional participation remains unclear Angola’s planned $6.6 billion Lobito refinery is facing renewed financing uncertainty as discussions with regional and international investors progress more slowly than expected, raising concerns over the timeline for securing full financial closure. State-owned oil company Sonangol has said it has received no formal communication from Botswana regarding reported interest in acquiring a stake in the

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Corporate News International Oil Petroleum

Trafigura Signs $1bn Oil-Backed Financing Deal with Gabon to Boost Liquidity

Gabon secures $1 billion oil-backed financing from Trafigura in seven-year crude supply deal to strengthen public finances and investment spending Global commodities trader Trafigura has signed a $1 billion oil-backed financing agreement with the government of Gabon, providing upfront liquidity in exchange for future crude oil deliveries over a seven-year period. Announced on Wednesday, the arrangement will see Trafigura extend prepayment financing to the Gabonese state while acting as the exclusive buyer of the country’s

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International Corporate News Oil

TotalEnergies Announces New Offshore Hydrocarbon Discovery in Republic of Congo

TotalEnergies Reports Major Offshore Oil Discovery in Republic of Congo, Estimating Over 100 Million Barrels of Recoverable Resources TotalEnergies has announced the discovery of hydrocarbons in the Republic of the Congo as part of its ongoing drilling campaign to expand the Moho offshore field, a key deepwater production hub in the country. The company reported that drilling activities identified a hydrocarbon column of approximately 160 metres, indicating significant resource potential in the area. Based on

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Diamonds Corporate News International

Botswana Seeks Strategic Deals with Oman as It Pursues Greater Control of De Beers

President Duma Boko Travels to Oman to Secure Resource Partnerships and Financing for Potential De Beers Stake Expansion Botswana President Duma Boko is travelling to Oman to sign cooperation agreements covering natural resources and energy, as his administration works to strengthen the country’s position in leading diamond producer De Beers Group. Boko is scheduled to hold talks through Tuesday with Haitham bin Tariq, according to a statement issued by the president’s office on Sunday. The

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International Corporate News Oil

ExxonMobil Nears $10 Billion Investment in Nigeria’s Deepwater Oil Projects

ExxonMobil plans $10B investment in Nigerian deepwater oil to boost production to 180,000 bpd ExxonMobil is moving closer to a $10 billion investment decision in Nigeria, Africa’s largest oil producer, aiming to expand its deepwater oil production in the country to 180,000 barrels per day (bpd). The company first announced the plan in September 2024 following a meeting in New York between its executives and Nigeria’s Vice President Kashim Shettima. The initial phase focuses on

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Corporate News Local Oil Petroleum

Sonangol Assures Stable Fuel Supply to Angola Despite Middle East Conflict

Sonangol Guarantees Fuel Supply Stability in Angola as Middle East War Disrupts Global Oil Routes Luanda — Angola’s state-owned oil company, Sonangol, has assured the public of the continued supply of fuel to the national market despite escalating conflict in the Middle East that has disrupted key global oil and natural gas transport routes. The assurance was provided last week by Alfredo Alberto, Director of Supplies and Purchasing at Sonangol, who emphasized that fuel distribution

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Corporate News International Oil

BP to Invest $1.5 Billion in Natural Gas Exploration in Egypt

BP Commits $1.5B to Boost Natural Gas Production in Egypt’s North Coast and Nile Delta BP has announced plans to invest $1.5 billion in natural gas exploration in Egypt during the 2026–27 fiscal year, signaling its intention to expand operations while supporting Egypt’s goal of strengthening its energy sector and increasing export capacity. The investment will fund the drilling of new exploration wells along the North Coast and in the Nile Delta, areas critical for

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Corporate News International Oil

Dangote Refinery Secures $2.5 Billion from Afreximbank for Expansion

Dangote Petroleum Refinery Receives $2.5B Afreximbank Loan to Boost Nigeria’s Fuel Production Nigeria’s Dangote Petroleum Refinery and Petrochemicals has secured $2.5 billion from the African Export-Import Bank (Afreximbank) as part of a $4 billion syndicated term loan, strengthening the financial position of Africa’s largest oil refinery and supporting its next phase of expansion. Afreximbank and Access Bank acted as co-mandated lead arrangers for the five-year facility, which is intended to refinance existing debt and align

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